Range Resources (NYSE:RRC) Given New $34.00 Price Target at Susquehanna

Range Resources (NYSE:RRCGet Rating) had its price objective boosted by analysts at Susquehanna from $24.00 to $34.00 in a research report issued on Monday, The Fly reports. Susquehanna’s price target suggests a potential upside of 12.03% from the stock’s current price.

A number of other equities analysts have also recently commented on RRC. Mizuho lifted their price objective on shares of Range Resources from $24.00 to $42.00 and gave the stock a “neutral” rating in a research report on Friday, April 8th. TD Securities raised Range Resources from a “reduce” rating to a “hold” rating and boosted their price target for the company from $16.50 to $22.00 in a research note on Wednesday, January 5th. Zacks Investment Research downgraded Range Resources from a “hold” rating to a “sell” rating and set a $19.00 price target for the company. in a research note on Thursday, January 6th. Benchmark boosted their price target on Range Resources from $33.00 to $43.00 in a research note on Monday, April 11th. Finally, Morgan Stanley boosted their price target on Range Resources from $25.00 to $32.00 and gave the company an “underweight” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $29.26.

Shares of NYSE:RRC opened at $30.35 on Monday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market capitalization of $7.98 billion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 0.27 and a beta of 2.12. The firm’s 50 day simple moving average is $27.69 and its 200 day simple moving average is $23.21. Range Resources has a fifty-two week low of $8.71 and a fifty-two week high of $34.61.

Range Resources (NYSE:RRCGet Rating) last announced its earnings results on Tuesday, February 22nd. The oil and gas exploration company reported $0.96 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.02). Range Resources had a return on equity of 31.21% and a net margin of 14.05%. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $871.99 million. During the same quarter last year, the business posted $0.02 earnings per share. The business’s quarterly revenue was up 161.6% on a year-over-year basis. Equities research analysts expect that Range Resources will post 4.16 earnings per share for the current year.

Range Resources announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 22nd that allows the company to buyback $500.00 million in shares. This buyback authorization allows the oil and gas exploration company to purchase up to 9.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

In other news, SVP Dori Ginn sold 10,000 shares of the stock in a transaction on Friday, April 8th. The stock was sold at an average price of $32.60, for a total transaction of $326,000.00. Following the completion of the transaction, the senior vice president now owns 75,098 shares in the company, valued at approximately $2,448,194.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Voya Investment Management LLC boosted its stake in Range Resources by 0.3% in the 3rd quarter. Voya Investment Management LLC now owns 143,642 shares of the oil and gas exploration company’s stock worth $3,251,000 after purchasing an additional 433 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Range Resources by 10.6% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,596 shares of the oil and gas exploration company’s stock worth $149,000 after purchasing an additional 634 shares during the period. Natixis Advisors L.P. increased its stake in Range Resources by 1.5% in the 4th quarter. Natixis Advisors L.P. now owns 48,203 shares of the oil and gas exploration company’s stock worth $859,000 after purchasing an additional 732 shares during the period. CIBC Asset Management Inc increased its stake in Range Resources by 4.8% in the 3rd quarter. CIBC Asset Management Inc now owns 19,360 shares of the oil and gas exploration company’s stock worth $438,000 after purchasing an additional 894 shares during the period. Finally, Arlington Capital Management Inc. increased its stake in Range Resources by 6.2% in the 1st quarter. Arlington Capital Management Inc. now owns 17,091 shares of the oil and gas exploration company’s stock worth $519,000 after purchasing an additional 1,001 shares during the period. Institutional investors and hedge funds own 91.40% of the company’s stock.

About Range Resources (Get Rating)

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. As of December 31, 2021, the company owned and operated 1,350 net producing wells and approximately 794,000 net acres under lease located in the Appalachian region of the northeastern United States.

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